Worries about the economy pushed the Dow down 265-points, its eighth consecutive decline and longest losing streak in nearly three years. Meanwhile, bond prices soared and yields tumbled. Paul Vigna, Jonathan Cheng and Kelly Evans discuss.

This transcript has been automatically generated and may not be 100% accurate.

go ... not ... all ... the two hundred and fifty point ... one of ... the latest on what's coming next in Washington now that we got it that they owe ... good afternoon and welcome I'm Simon Qassam without huge crew River The knot David Onek of this chairs and a woman and Jonathan Cheng ... on and again sailed out of Washington Wire Live Postlets Bombardier Jonathan ... Mocken swooning walk to the trade and the ... people in the tenth of the blame it on on Congress' fear but say they given that it's the economy is on the local law ... Rocky are now than it did just even a week ago we got the GDP number last Friday we have an effect on Monday we have Pursell income and spending today ... and we got a job ... Paul didn't seem to get progressively worsen through today ... is the Medion and some went on to sixty four ... down on the bouncing along ... this is a very bad day for the stock market reaches sixty four that the SNP is the real porn won the ... BCS and peas and New year low ... it was bolted to force a two-year low yesterday so Bollore years ago on the SNP ... but what ... I was really going on yet I think it's just that the stock market is just catching up to drill in reality I mean the bond market ... the ten year yield has been low for a long time now ... to two point six two which is extraordinarily low aam and yes the deadline ... safe havens they have been rising for a long time the stock market and whistling past the graveyard to set out the second at the second half we know what ... is the ... dentist's office and an office and pass the Senate seat broken on Wall Street and every once in the economy is in ... production at Qualcomm's that it ... gets it but I disagree with both of you ... because I ... think this Congress and I don't think are waking up I think that this debt deal ... with the nail in the coffin that says ... that a two point five for what is that all this money out of the economy ... and the economy is ... you know the sick and dying ... right now so much so we're going to make things worse by cutting spending and cutting back but they're sticking his hands out there on Wall Street who like money flowing into the economy from the government ... and the reality is is that you're already here and business leaders like Wilbur Ross St ... this is not a good deal ... for the U S economy from business or any ... on one point two tonnes of gold reached new heights ... how high degree of well over sixteen hundred that spread over sixteen forty believe it has so much of the summit is that I'm wrong but isn't pastime people for protective inflation will be coming down the pike ... and if your writing that it's taking money out of the economy going and when when you think that place the signing of the uncle but I've but a number of reasons and and part of the part of the problem for them to six dollars sixty one new all-time high the bank that will give you don't know of ... mining gold as it is for some people it's really incredible amount of questions about everything on the planet me a question about that right for you if you questions about the dollar the euro may worry ... the safest this AP even physical cleanup to do with pointed ears knew that this is what is new news yesterday that it could ... come up two point five billion in cuts over ten years ... a lot of them I guarantee or accounting fictions so I don't know how much the deal is he in fact going to affect the economy but will encourage you that the economy's been very weak for a long time ... people been ignoring it ... and what we saw the last two weeks that Congress to give the ring ... the decision allowed the leaders of the establishment ... Data said David instrumental that we've been on the economy is bad and we know we've had a dysfunctional government what happens that that was the signing ... of this of this ... of this debt to our thinking on this and it sunk into because we've only known that the Tells was twenty four hours now people are getting a grip on it ... and they're saying ... while ... our rights we have agreed to this framework but the reality is he's got a lot of decisions to make of the next year ... and so the traders probably sitting there saying ... Why not sure if I'm going to be affected by this or not to fund healthcare Fink is my Medicare ... is that it affects me the common defense contractor saying I'm not sure how much the military is going to be cut ... because much of this is still riding on decisions that are to come from is conditioned on the ground was commissioned on tells them ... I'm Paul ... none of them we have a fiscally prudent government is not about ongoing FaceTime ... baseline full wall of the companies in the economy Thompson credit because at that point the Diasonics Bay which was a was ideologically may not agree with with on having the government's prop things up in the economy is going but ... that doesn't change the fact that eking ways relief and in the short term projects and I think that's ... props what the market despite its list of the ... video all job at the lower from what ... I think that the real bottom lines are finding out that the panic of two thousand and eight was a much worse than we thought was instead a much worse effect on the economy can we realized it was that so we're coming to pick her brain Kelly Evans thank you Jonathan entice income and this plant was exactly what's been happening in the bond market because ... the money's been ... almost a CD might all the other place to bring aboard yesterday was ... the bond market what happened in Treasurys ... what the Fed to back up for a second if you look at the ten year the thirty year to date the servicer benchmark securities of people whose gauge of of how investors view state TV risk ... on yields have fallen so sharply it's it's really amazing I mean just ... a week ago we had ... you know you're months added to your boss three percent are talking about levels of two point six percent said some people like to say that correlates with current projections which ... fits in nicely with this theme today which is that we're just looking ahead in a leafy Asians much Grell than so that it's hard to really see the turn this around now ordinarily this to be great news ... low borrowing costs and ordered rates are lower ... the prom is is not their son to me and in the economy recovers and demand for fine and so if anything ... those low rates are are here aren't able to be taken at the end it all home I'm I'm talking ... about how ... I wanted to go ... on it and yes I get a single cruise through two point four which was a ... record low ... the crisis low the crisis low twenty think is and when they don't even like the thing is is just the beginning of the queue for hours ... when you know the cities that uses the securities that we were threatening a default but was ... in a month and the reality is is that ... going down the road and maybe more parts of the debt limit them even more scare tactics ... and so the answer is ... I have no it didn't but I just know that right now these levels are absolutely terrible because an investor is saying ... I'll take two point four percent return over ten years ... for anything else ... they're just think it's a great point ... one times when Obama fun when you know that he doesn't know who were talking that default and now these these are yielding much of an unfathomable what you saw I actually was that even even the slowest Treasurys were coupled a skill levels of two point Eater or something around that that that was actually pricing and some of that risk so soon is that one off the table and people started to realize look ... the risk of default was never that great belief come to agreement growth projections the Lord the side then just drop precipitously today use ought ... not to cementing a spot of thirty or so ... thirty year rates now below four percent of people are demanding less than half a US government they don't seem to care ... whether or not we have a AAA rated to hear about its growth in a Nazi ... as the planet's Bryan was opened on the cards for corporate or junk rated securities on a thing of wonder wonder what is credit risk is that I mean they are ... you're seeing it especially in utilities which are relatively safe yet those you who are seriously higher than spring whining ... about becoming more attractive for some people in pink or utility ... is pretty things the people for whom bike was also there ... for the season to be interested in the two-year hit an all-time low yet T Daniel ... part is the fact that the Fed is keeping interest rates into the fray I mean they're going to be low no matter what since ended when on that ... as as as as Bam pop artist from ... is ... this let me know what ... I need your party jumping expecting Kiwi three what exactly does that mean one thing that speculating about what the QE three the next ... on Sunday when or does it have to deal with getting response reducing your crazy pre race mishap ... that so quickly said Man Institute in just a couple of days we've gone from feeling pretty ... good about things all considered least markets now suddenly looking and feeling as though the four global companies so for now all ... three defendants onwards ... is it okay ... but the fact that Congress and in the press ... in the White House are not taking aggressive action ... to help stimulate the economy is the problem ... and it just means that bad out there on its own and so much that I can do people are complaining about Gap demanded that her kids are probably that is a ... great point there's not much we can point your economically the QE two did that with with this whole part about the Fed is ... if anything away for this one has to lower the dollar potential in China and boost I'd ... prefer the US in and see the can help generate any grow and we have to leave it that I'm ... very sorry thank